Bonny Gas Transport

As it is a 100% daughter of NLNG the ownership of BGT is the same as that of NNLNG and thus:

NNPC = 49%

Shell = 25,6%

Total = 15%

ENI = 10,4%

The income of BGT comes from long-term charters of their ships to NLNG: BGT's activities are limited to charter ships to NLNG and all gas found at the fields in the Bonny Island project by NNPC is sold to the above companies and the transport over the Atlantic Ocean to Europe or America is done via BGT ships.

Until 2006 BGT had a range of different (bank)loans to finance the buying and updating the LNG tankers. On October 2006 a deal was made with a consortium of banks to re-finance US$ 680 million. The original loans were related to 9 ships; this new deal also included the room to extend the fleet to the current 13 ships: in the years following the completion of this deal the output of the Bonny gas fields was expected and it was foreseen that additional shipping-capacity was required (see also the main-article on Nigeria LNG).

Because the gas and oil projects in the Niger Delta, including Bonny Island, are seen as high-risk investments, the financing of the ships to transport any produce from the area, are done via a separate company (BGT): even when the worst come to the worst and there would be no gas to be transported from the area the ships can be used anywhere in the world; thus financing the ships was seen as lower risk then financing the mother company itself.[2]

In January 2012 NNPC said that they were trying to raise US $ 1 billion to renew the fleet of their daughter-company BGT[3]

As of April 2012, the company owned and operated the following LNG carriers:[1][4]

Name	launched	shipyard build-number	IMO number	tonnage	flag	former name or notes
LNG Abuja	1980	General Dynamics buildnr:54	7619587	93.619	Bahamas	Lake Charles (1980–2000)
LNG Adamawa	2005	Hyundai buildnr:1470	9262211	118.000	Bermuda
LNG Akwa Ibom	2004	Hyundai buildnr:1469	9262209	118.000	Bermuda	sister-ship of LNG Adamawa
LNG Bayelsa	2004	Hyundai buildnr:1429	9241267	118.000	Bermuda	sister-ship of LNG Adamawa
LNG Bonny	1981	Kockums Shipyard buildnr: 559	7708948	71.472	Bermuda	Rhenania (1981–1991)
LNG Cross River	2005	Hyundai buildnr:1471	9262223	118.000	Bermuda	sister-ship of LNG Adamawa,
LNG Edo	1980	General Dynamics buildnr:53	7619587	93.619	Bahamas	Louisiana (1980–2000) sistership of LNG Abuja
LNG Finima	1084	Kockums Shipyard buildr:564	7702401	71.472	Bermuda	LNG 564 (1984–1991) sistership of LNG Bonny
LNG Lagos	1977	Chantiers de l'Atlantique buildnr:26	7360124	68.122	Bermuda	MV Gastor (1977–1993)
LNG Port Harcourt	1976	Chantiers de l'Atlantique buildnr:B26	7360136	68.122	Bermuda	MV Nestor (1976–1993) sistership of LNG Lagos
LNG River Niger	2006	Hyundai buildnr:1472	9262235	118.000	Bermuda	sister-ship of LNG Adamawa
LNG Rivers	2002	Hyundai buildnr:1295	9216298	114.354	Bermuda
LNG Sokoto[5]	2002	Hyundai buildnr:1296	9216303	114.354	Bermuda	sister-ship of LNG Rivers